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JPMorgan to price 8.5% reverse convertibles linked to Yahoo
New York, March 31 - JPMorgan Chase & Co. plans to price 8.5% reverse convertible notes due Oct. 20, 2014 linked to Yahoo! Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Yahoo shares fall below 75% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Yahoo shares equal to $1,000 divided by the initial price.
The notes are expected to price on April 15 and settle on April 21.
JPMorgan is the agent.
The Cusip number is 48127DDM7.
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